Market Chatter: Starbucks Weighing Sale of Stake in Chinese Business

MT Newswires Live11-21 19:10

Starbucks (SBUX) is exploring selling a stake and other options for its Chinese business, Bloomberg News reported Thursday, citing people with knowledge of the matter.

The global coffee chain has been in talks with advisers about expanding its operations in China, including the introduction of a local partner, the report said.

Starbucks has caught the interest of potential investors including domestic private equity firms, and the stake sale may potentially entice Chinese conglomerates or other local companies, the report quoted the sources as saying.

Starbucks is still considering its options and has not decided how to proceed, the report said.

This comes as Starbucks is under pressure from activist Elliott Investment Management to review its Chinese business, according to the report.

Starbucks did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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